BREAKING: FEC approves $3.1bn for automation of Nigeria Customs

The Federal Executive Council (FEC) has approved $3.1 billion for the end to end automation of the Nigeria Customs Service (NCS).

Nigeria’s Minister of Finance, Zainab Ahmed disclosed this at the end of the FEC virtual meeting in Abuja on Wednesday.

READ ALSO: FEC approves N2.3trn stimulus package to keep economy afloat

According to her, the concessionary period is 20 years and the funding is solely from investors with the revenue expected from this automation pegged at $176bn.

In May, Daily Times reported that the Federal Executive Council approved N623.7 million for the Nigeria Customs Service to buy computers for its zonal and area commands.

The Minister of Finance presented a memo for the award of contract for 1, 200 units of coloured printers and desktop computers for human resources and accounting management systems across zones and area commands of the Nigeria Customs Service, which was approved.

According to Lai Mohammed, the Minister of Information who disclosed this to newsmen in May, said, ”The sum of the contract was N623,700,000 for the 1, 200 desktops and computers for the use of the Customs Service all over the country,”